Fox Corporation Announces Pricing of Senior Notes

Fox Corporation Announces Pricing of Senior Notes New York, NY and Los Angeles, CA - March 31 2020 - Fox Corporation (Nasdaq: FOXA, FOX) (the Company ) today announced the pricing of its public offering of $600,000,000 million aggregate principal amount of 3.050% Senior Notes due 2025 and $600,000,000 million aggregate principal amount of 3.500% Senior Notes due 2030 (collectively, the Notes ). The Company expects the offering of the Notes to close on April 7, 2020, subject to customary closing conditions.

The Company intends to use the net proceeds from the offering for general corporate purposes.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are acting as the joint book-running managers for the offering.

The offering was made under an automatic shelf registration statement that was filed with the Securities and Exchange Commission (the SEC ) on March 31, 2020. The terms and conditions of the Notes will be set forth in a prospectus and related prospectus supplement, copies of which may be obtained by visiting the SEC's website at www.sec.gov or by contacting Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146 or email: prospectus@citi.com or J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk 3rd floor. Tel: (212) 834-4533 (collect).

This news release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase the Notes. No offer, solicitation or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Fox Corporation

Fox Corporation produces and distributes compelling news, sports and entertainment content through its iconic domestic brands including: FOX News Media, FOX Sports, FOX Entertainment, and FOX Television Stations. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of our footprint allows us to deliver content that engages and informs audiences, develop deeper consumer relationships and create more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that will shape our strategy to capitalize on current strengths and invest in new initiatives.

Cautionary Note Regarding Forward Looking Statements

This news release contains forward-looking statements and information within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as may, will, should, likely, anticipates, expects, intends, plans, projects, believes, estimates, outlook and similar expressions are used to identify these forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements in this news release due to changes in economic, business, competitive, technological, strategic and/or regulatory factors and other factors affecting the operation of the business of Fox Corporation, including the impact of COVID-19. More detailed information about risk factors affecting Fox Corporation is contained in the documents Fox Corporation has filed with or furnished to the SEC, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2019 and subsequent Quarterly Reports on Form 10-Q.

Statements in this news release speak only as of the date hereof. The Company undertakes no duty to update or release any revisions to any forward-looking statement made in this news release or to report any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or to conform such statements to actual results or changes in the Company's expectations, except as required by law.

Press Contacts:

Megan Klein

megan.klein@fox.com

Investor Contacts:

Joe Dorrego

joseph.dorrego@fox.com

Dan Carey

daniel.carey@fox.com

LINK:	https://www.foxcorporation.com/news/archives/2020/fox-corporation-anno...
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